Today’s Lowest Mortgage Interest Rates – First Time Home Buyer Tax Credit Expires on April 30th, 2010
Posted on | April 29, 2010 | Comments Off
Today’s lowest mortgage interest rates are around 4.9% for a 30 year fixed mortgage and 4.3% for a 15 year fixed mortgage. The first time home buyer tax credit expires on April 30th, 2010 which means that many Americans will likely flood the market in hopes of locking in to a low mortgage rate and the first time home buyer $8000 tax credit.
Over the next few months it will be very interesting to see how the overall housing market reacts. If mortgage interest rates start to move up and the first time home buyer tax credit expires there is a possibility that we could see home prices start to drop again. There is very little argument that the first time home buyer tax credit has done a lot to prop up the housing market.
Many analysts are predicting that mortgage interest rates could move to 6% very soon with the Federal Reserve Bank no longer purchasing mortgage backed securities. It is also the case that the 10 year treasury rate yield is up trending which could push mortgage interest rates higher.
Author: Jeremy North